Good news Subsidized LPG cylinder price slashed

The price of subsidized domestic cooking gas or LPG has been reduced on account of tax impact on the reduced market rate of the fuel. Subsidized LPG price was slashed by Rs. 5.91/cylinder.

After the reduction, a 14.2-kg subsidized LPG cylinder will cost Rs. 494.99 in the national capital from midnight tonight; it currently costs Rs. 500.90.

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The LPG price reduction was announced by the country’s largest fuel retailer, Indian Oil Corporation (IOC), in a statement. This is the second straight reduction in LPG rate in Dec’18.

Earlier, on 1 December, the subsidized LPG rate was decreased by Rs. 6.52 per cylinder after six consecutive rate hikes since June. The subsidized LPG price had increased by Rs. 14.13 during June-November.

Meanwhile, the non-subsidized LPG rate has been reduced by Rs. 120.50/cylinder; at market price, a 14.2-kg LPG cylinder will cost Rs. 689 after the reduction in Delhi. The market-priced LPG price was cut by Rs. 133 per cylinder on 1 December.

IOC said the prices were reduced “due to fall in price of LPG in international market and strengthening of US dollar-rupee exchange rate.”